It certainly has been a busy week for many of Australia's leading brokers. Countless trading updates have been released this week courtesy of the Macquarie Group Ltd (ASX: MQG) conference.
Unsurprisingly this has led to a number of broker upgrades and downgrades. Three shares which have found favour with brokers today are listed below:
Aconex Ltd (ASX: ACX)
A research note out of Morgan Stanley reveals that its analysts have reiterated their overweight rating and increased their price target on the software company's shares to $5.05. Yesterday Aconex confirmed that it was on course to meet its full-year guidance and continues to target revenue growth of at least 20% per annum over the medium to long-term. I would agree with Morgan Stanley on this one and think Aconex could prove to be a great buy and hold investment.
oOh!Media Ltd (ASX: OML)
Analysts at Credit Suisse have upgraded the media company to an outperform rating with a $5.05 price target. According to the note its analysts believe its shares trade at a discount to APN Outdoor Group Ltd (ASX: APO) and provide sizeable upside potential. Whilst I do like oOh!Media, at 27x trailing earnings I don't think they are necessarily great value for money at present. So for now I would hold off and wait for a better entry point.
Super Retail Group Ltd (ASX: SUL)
According to a research note out of Deutsche Bank, its analysts have reiterated their buy rating and $11.50 price target on the retailer's shares following yesterday's trading update. Although it acknowledges a slowdown in like-for-like sales, Deutsche remains optimistic on the company's prospects in a challenging retail environment. Unfortunately with Amazon expected to arrive in Australia later this year, Super Retail isn't really a company I would feel comfortable investing in today. I believe it could be one of the more negatively impacted retailers from an Amazon launch. So for this reason I'd give it a miss.
